Chris Lombardi puts defense and security under the spotlight, as he shares his takes on recent NATO and EU cooperation and provides insight into the company’s own long-term strategic partnerships in Europe.

Three trends are currently driving the global electricity sector: decarbonization, decentralization and differentiation. Utilities are making significant contributions to mitigate carbon emissions, while a technology revolution is …

Business in brief

European Voice

10/22/08, 5:00 PM CET

Updated 4/12/14, 4:42 PM CET

Financial crisis

The European Parliament on Tuesday (21 October) passed a resolution calling for a co-ordinated response to tackle the financial crisis, with 499 votes in favour, 130 against and 67 abstentions. MEPs called on the European Commission to strengthen EU regulatory and supervisory structures on banks and credit ratings agencies, and criticised lack of Parliamentary involvement in the Commission’s ‘high-level group’ on the future of supervisory structures for financial services.In the bank

The Commission on Tuesday approved a €9 billion restructuring package for IKB, a medium-sized German bank whose finances were hurt by its investments in the US sub-prime mortgage market. The measures include capital injections provided by Kreditanstalt für Wiederaufbau, a state-owned bank, and three banking associations.

Temporary workers

Temporary workers will get the same terms and conditions as permanent workers from the first day of their employment, following the approval of the temporary workers directive by the Parliament on Wednesday (22 October). The UK has secured an exception so that the rules apply only after temporary workers have spent 12 weeks in the job. Member states will have three years to transpose the directive into national law.

Timeshare protection

MEPs voted on Wednesday to approve a new law on timeshares and other long-term holiday packages to combat misselling. Updating a 1994 law, it extends consumer protection to timeshare contracts that last less than three years and to new types of timeshares, including canalboats, caravans and cruise ships.

ING bail-out

The Dutch government announced on Sunday (19 October) that it would inject €10bn into ING after the troubled bank’s share price dropped sharply. As part of the deal, which will be formally concluded on 12 November when ING issues quarterly results, the bank would scrap bonuses and end-of-year dividends.